Ashland: Fiscal 4Q Earnings Snapshot
COVINGTON, Ky. (AP) _ Ashland Inc. (ASH) on Monday reported fiscal fourth-quarter profit of $411 million.
On a per-share basis, the Covington, Kentucky-based company said it had net income of $6.71. Earnings, adjusted for one-time gains and costs, came to 77 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The chemical company posted revenue of $609 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $641.8 million.
For the year, the company reported profit of $505 million, or $8.03 per share. Revenue was reported as $2.49 billion.
Ashland shares have climbed 11% since the beginning of the year. In the final minutes of trading on Monday, shares hit $78.65, a decrease of slightly more than 4% in the last 12 months.